NYC Research Event 2019-4-23 GiveWell GiveWell NYC Research Event April 23, 2019 – Top Charities 04/23/19 Page 1 of 12 NYC Research Event 2019-4-23 GiveWell This transcript was compiled by an outside contractor, and GiveWell did not review it in full before publishing, so it is possible that parts of the audio were inaccurately transcribed. If you have questions about any part of this transcript, please review the original audio recording that was posted along with these notes. 00:00 Catherine Hollander: Thank you all so much for being here. Can everyone hear me okay in the back? 00:04 Audience: Yeah. 00:05 CH: Great. I am Catherine Hollander, Senior Research Analyst focused on Outreach at GiveWell and this is Elie Hassenfeld, GiveWell's Executive Director. We're going to speak for about 20 to 30 minutes about the work that GiveWell's doing with some pauses in between for questions. Our goal is really to update you on what we're working on, and to make space for any topics that you're interested in covering to give you a sense of what we're doing today and the sense of our path forward. We are recording this event so that we can share it on our website with people who are unable to attend. So, you will hear us both repeat questions that are asked for the sake of the recording when we get to the Q&A's. If you ask a question that you prefer not be included in the recording for any reason, please just email [email protected] after the event and let us know. We're really happy to accommodate that, but we also really appreciate the chance to share these events with folks who aren't based here in New York. Also, before we get started, I wanted to point out a couple other GiveWell staff members in the room. We have Grace, who, I can't tell if she's here or probably she's still downstairs. 01:18 Grace: Yes, hi. 01:19 CH: Grace is the person who greeted you downstairs. We also have Erin back there. 01:24 Erin: Hi. 01:25 CH: Olivia is over here, and we have Dan next to Olivia and our board member, Tim Ogden... Over there. So, I'm pointing everyone out so that after we're done speaking up here, you know who to come and find if you have any additional questions about GiveWell that didn't get answered during the formal presentation here. So, with that, I think those are the logistics as we get started and I'm going to turn it over to Elie to begin. Let me see if I can get the clicker. 02:00 Elie Hassenfeld: Thanks Catherine, and thank you all for coming. It's really great to see you all and share some of what we've been working on. Sort of a high level framing for what's happening at GiveWell right now, is we're about 12 years old, and there are really two core areas that we're focusing on in trying to maximize GiveWell's impact over the long run. One area is strengthening GiveWell as an organization and what we mean by that is trying to improve the quality of the research that we do, find more top charities that are similar to the types of organizations we've found in the past, review more interventions, but also strengthen GiveWell from the inside, better articulate our culture and our values and strengthen our operational systems to support further growth in the future. 02:52 EH: And then the other area of focus is trying to find ways that we can substantially increase the impact that we're already having. Two ways where we see big opportunities to increase our impact is, first on the research side, we're planning to expand the scope of the types of organizations that we consider to try and identify opportunities that are significantly more cost-effective than the top charities we've recommended today. And I'll be speaking about that in a minute. And then the other big area of opportunity we see is putting some time into building more of a growth and marketing team at GiveWell. Today, GiveWell has put very little proactive energy into outreach. And we've been incredibly fortunate that we did research, people found what we did, they valued it, they told other people about it, they gave based on our research and virtually all of the interest that we have in our work has come from folks finding us and then us reacting to that interest rather than us proactively going out and trying to grow the market of people who are effective givers and who utilize our research. And so, a big part of our plans over the next few years, is to significantly grow that function. 04:13 EH: I want to dive in a bit to some of what we're planning to do to expand the scope of our research. The reason that we want to expand the scope and to look for other opportunities is that, ultimately, the impact that GiveWell has is largely a function of how much money we can move to the organizations we recommend and then how much impact our recommendations have on the lives of the people that they're trying to improve. And we have a large group of top charities that do an outstanding job improving people's lives. The question that we have now is whether there are opportunities that go beyond the scope of what those organizations are currently working on that could lead to much better returns. Now, we don't know whether or not we will find opportunities that are better, but when GiveWell started, 04/23/19 Page 2 of 12 NYC Research Event 2019-4-23 GiveWell we were very focused on a set of criteria that were a good fit for who I was and who Holden, my co-founder, was when we started GiveWell. 05:16 EH: We were not experts and we looked for the organizations or the programs that had the best data in order to find the places where we could reasonably add value. And now we've been at this for a long time and we think that there are some opportunities where there will be lower quality data, but potentially higher expected value-giving opportunities, and so that's what we plan to explore. 05:39 EH: Now, we plan to explore this fairly slowly and deliberately. You probably won't see major changes on GiveWell's top charity list in the very near future because our group of top charities is excellent and we want to maintain the quality of the work that you've come to expect with those organizations but we're planning to build research capacity. We're a small team of 11 researchers now and we're hoping to double the size of the research team over the next couple of years and then use some of that additional capacity to expand into some new areas. 06:14 EH: Two key areas that I want to talk about tonight are an area that we'd call public health regulation. And then another, I want to talk a bit about work we're doing to see whether we can use our research to influence how some of the largest donors in the world, the government aid agencies, how they allocate their funding. 06:37 EH: So, first, let me talk about public health regulation. One of the ways in which philanthropists could potentially have significantly more impact is by influencing how much larger actors behave. There are some opportunities to directly deliver health commodities to people who need them. This is what many of GiveWell's top charities do today. They deliver malaria nets, malaria preventive treatment, buy everyday supplements. There are other GiveWell top charities that work directly with governments to deliver more effective programs. For example, Deworm the World in India is a technical assistance provider to aid the government of India, which is implementing deworming programs. 07:20 EH: But a third type of way that organizations can interact with the government is by encouraging improved health regulations. So one example is tobacco taxation. And I should emphasize that this is, by far, not the only area that we plan to look into, but I think it's a particularly promising area. We know from evidence in high-income countries that increasing taxation rates on tobacco reduced tobacco use, and that improved public health. And there are countries in... There are low and middle income countries that don't have the same types of regulations. And there's a reasonable chance that more advocacy could lead to more effective regulation and reductions in tobacco use leading to increasing public health benefits. 08:11 EH: Tobacco, the way we plan to look into this is conceptually very similar to the way that GiveWell has approached its researched historically, though we're not going to be able to use the same types of research methodologies to evaluate the programs that we look at. So, we will be looking at evidence of effectiveness, but I think we will be more likely to look at new organizations' track record of affecting change in regulation historically, rather than a randomized control trial of its impact. We'll be trying to model cost effectiveness, but we know that our cost effectiveness estimates in the public health regulation space will be significantly less robust than our cost effectiveness estimates in direct health delivery.